Slate Auto eyes former Indiana printing plant for its EV truck production
Slate Auto, the buzzy new EV startup that broke stealth this week, is close to locking in a former printing plant located in Warsaw, Indiana as the future production site for its cheap electric truck, a review of public records shows.
The company is expected to lease the 1.4 million-square-foot facility for an undisclosed sum. Economic development officials told local media earlier this year (without naming Slate) the factory could employ up to 2,000 people, and that the county offered the undisclosed company an incentive package.
It’s not immediately clear what that incentive package includes or if it has been finalized. Slate did not immediately respond to a request for comment. Peggy Friday, the CEO of the Kosciusko County Economic Development Corporation said in an email that she is “under a strict non-disclosure agreement with the project.”
Slate showed an aerial photo of the factory during Thursday’s event. The company did not say where it was located, but the photo matches a public listing for the facility available on the Indiana Economic Development Corporation’s website. TechCrunch previously reported that the company planned to make its EVs, which will cost under $20,000 after the federal tax credit, in Indiana.
“Our truck will be made here in the USA as part of our commitment to re-industrializing America,” Slate’s CEO Chris Barman said onstage while the factory photo was displayed on a screen behind her.
Slate’s focus on domestic manufacturing is embedded in the company’s DNA. The startup was originally created inside of Re:Build Manufacturing, a Massachusetts-based company focused on beefing up the country’s ability to make things.
The factory in Warsaw was built in 1958, and was occupied for decades by printing company R.R. Donnelly. It has been dormant for around two years, according to local media.
Converting a factory, especially one that was not previously pumping out cars, is no cheap or easy task. Slate has amassed a serious war chest to help tackle that goal. Backed in part by Amazon founder Jeff Bezos, Guggenheim Partners CEO Mark Walter, and powerhouse VC firm General Catalyst, the startup has raised well over $100 million to date.
The approach Slate is taking in designing and building its electric truck should help keep costs down, too. The company plans to sell wraps for the trucks instead of painting them, meaning it does not need to build a paint shop at the factory. That alone could save Slate hundreds of millions in the plant buildout process.
Sean O’Kane is a reporter who has spent a decade covering the rapidly-evolving business and technology of the transportation industry, including Tesla and the many startups chasing Elon Musk. Most recently, he was a reporter at Bloomberg News where he helped break stories about some of the most notorious EV SPAC flops. He previously worked at The Verge, where he also covered consumer technology, hosted many short- and long-form videos, performed product and editorial photography, and once nearly passed out in a Red Bull Air Race plane.
